Bay Street Likely To Open Slightly Up; BoC Rate Decision In Focus

RTTNews | 962 dias atrás
Bay Street Likely To Open Slightly Up; BoC Rate Decision In Focus

(RTTNews) - Canadian shares are likely to open slightly up, tracking marginally higher commodity prices. The focus will be on the Bank of Canada's interest rate decision, due shortly after the opening bell.

The central bank, which is scheduled to announce its rate decision at 10 AM ET, is widely expected to hike rates by 75 basis points to fight surging prices.

Data on Canada's trade balance for the month of July is due at 8:30 AM ET.

Canada's trade surplus widened to C$ 5.0 billion in June of 2022, from a downwardly revised C$ 4.8 billion in the prior month. It was the largest monthly trade surplus since August of 2008.

Exports rose 2% in June from a month earlier to a record high of C$ 69.9 billion, while imports rose 1.7% to C$ 64.9 billion.

The Canadian market ended notably lower on Tuesday, dragged down by losses in energy, healthcare and technology stocks.

The mood was quite cautious right through the day's session amid concerns about policy tightening by central banks and fears of a recession. The benchmark S&P/TSX Composite Index ended down 182.70 points or 0.95% at 19,088.15, despite having climbed to 19,371.48 in early trades.

Asian stocks dropped to a two-year low on Wednesday and the yen continued to decline, as solid U.S. services data released overnight reinforced investor expectations for a more aggressive pace of FOMC rate hikes. Weak Chinese export data further hurt sentiment.

European stocks are weak, weighed down by data that showed Chinese exports and imports lost momentum in August, adding to headwinds for the world's second-largest economy.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.18 or 0.2% at $87.06 a barrel.

Gold futures are gaining $1.20 or 0.07% at $1,714.10 an ounce, while Silver futures are up $0.167 or $0.93% at $18.075 an ounce.

read more
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Swiss market closed modestly higher on Friday after moving in a tight bandwith investors digesting earnings updates and continuing to track the developments on the tariff front.
RTTNews | 15h 40min atrás
European Stocks Close Higher

European Stocks Close Higher

Despite lingering uncertainty about U.S. government's trade policy, European stocks closed higher on Friday, with German and French markets gaining for a fourth straight session, and the U.K. moving up for the tenth consecutive session, as investors focused on earnings.
RTTNews | 15h 59min atrás
U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated modestly less than previously estimated in the month of April. The University of Michigan said its consumer sentiment index for April was upwardly revised to 52.2 from a preliminary reading of 50.8. Economists had expected the index to be unrevised.
RTTNews | 18h 17min atrás
Russia Holds Key Interest Rate As Expected

Russia Holds Key Interest Rate As Expected

The Bank of Russia left its interest rate unchanged as widely expected on Friday, despite high inflationary pressures. The board of directors, governed by Elvira Nabiullina, maintained the key interest rate at a record high 21.00 percent. The Russian central bank has raised the key interest rate by 1,350 basis points since July 2023.
RTTNews | 18h 39min atrás
UK Retail Sales Rise; Consumer Sentiment Weakens

UK Retail Sales Rise; Consumer Sentiment Weakens

UK retail sales grew unexpectedly in March as good weather boosted demand for clothing and garden supplies, but U.S. President Donald Trump's tariff threats and concerns of higher inflation dampened consumer sentiment, data showed Friday. Retail sales grew 0.4 percent on a monthly basis, confounding expectations for a decline of 0.3 percent.
RTTNews | 19h 27min atrás